Marlborough to limit inflows weeks after Nano-Cap launch

Malborough Fund Managers has imposed an initial charge of 5.25 per cent on its recently-launched Nano-Cap Growth fund after it reached capacity during its launch period, Investment Adviser can reveal.

The launch period, when investors could apply to buy units of the fund by going directly to the fund group, ran from October 14 to October 30 and the fund raised £90m from investors ranging from institutions to private investors.

The first pricing point on the fund is today but the firm has decided to apply the initial charge on all new investments in an attempt to manage inflows and “soft-close” the fund.

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The Marlborough Nano-Cap Growth fund, managed by Giles Hargreave, along with Guy Feld and David Walton, invests in companies with a market cap below £75m.

Mr Hargreave also runs the £204.6m Marlborough Micro-Cap fund, which invests in companies with a market cap of less than £250m, and the company has said it has no plans to manage inflows on that strategy yet, in spite of strong inflows in recent years.